Enviri (NYSE:NVRI) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Enviri (NYSE:NVRI) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

Several other research firms have also recently commented on NVRI. BMO Capital Markets lifted their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. Weiss Ratings raised Enviri from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.50.

Enviri Stock Performance

Shares of Enviri stock opened at $21.55 on Friday. The business has a 50 day moving average price of $22.14 and a 200 day moving average price of $20.54. Enviri has a 1 year low of $11.15 and a 1 year high of $24.20.

Enviri (NYSE:NVRI) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.32). The firm had revenue of $324.00 million during the quarter, compared to the consensus estimate of $370.97 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue was down 66.7% on a year-over-year basis. On average, analysts anticipate that Enviri will post -1.55 EPS for the current year.

Insider Activity

In related news, Director Carolann Haznedar acquired 4,875 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $20.46 per share, for a total transaction of $99,742.50. Following the acquisition, the director directly owned 42,955 shares in the company, valued at approximately $878,859.30. The trade was a 12.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter Minan bought 2,946 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average cost of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the transaction, the chief financial officer directly owned 97,505 shares of the company’s stock, valued at approximately $1,976,426.35. The trade was a 3.12% increase in their position. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Enviri

A number of hedge funds have recently made changes to their positions in NVRI. Bleakley Financial Group LLC raised its position in shares of Enviri by 3.4% in the 1st quarter. Bleakley Financial Group LLC now owns 16,380 shares of the company’s stock worth $321,000 after buying an additional 531 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Enviri during the second quarter valued at about $25,000. Rockefeller Capital Management L.P. grew its position in Enviri by 204.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company’s stock valued at $34,000 after acquiring an additional 1,264 shares during the period. KBC Group NV acquired a new stake in Enviri during the first quarter worth about $31,000. Finally, State of Wyoming acquired a new stake in Enviri during the second quarter worth about $46,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

About Enviri

Enviri Corporation, formerly known as Harsco Corporation, is an environmental solutions company that provides services for managing, processing and recycling industrial and regulated waste. The company serves customers in industries such as steelmaking, manufacturing, construction, energy and healthcare.

Enviri’s Harsco Environmental business supports steel producers with services that include the handling and processing of steel slag and other byproducts, metal recovery, material recycling and the production of processed aggregates and other products.